Receivership and Lender
Property Management
for Distressed Real Estate
When a loan goes bad, the collateral has to be protected immediately. Topanga Property Management supports lenders, servicers, and their counsel with court appointed receivership services and full service property management for foreclosed and distressed multifamily and commercial property across Los Angeles and Southern California. Our principal, Steve Friedmann, is a California licensed attorney, real estate broker, and general contractor, so legal process, physical repairs, and sale strategy are handled by one accountable team.
Receivership and Lender
Property Management
for Distressed Real Estate
When a loan goes bad, the collateral has to be protected immediately. Topanga Property Management supports lenders, servicers, and their counsel with court appointed receivership services and full service property management for foreclosed and distressed multifamily and commercial property across Los Angeles and Southern California. Our principal, Steve Friedmann, is a California licensed attorney, real estate broker, and general contractor, so legal process, physical repairs, and sale strategy are handled by one accountable team.
Receivership and Lender
Property Management
for Distressed Real Estate
When a loan goes bad, the collateral has to be protected immediately. Topanga Property Management supports lenders, servicers, and their counsel with court appointed receivership services and full service property management for foreclosed and distressed multifamily and commercial property across Los Angeles and Southern California. Our principal, Steve Friedmann, is a California licensed attorney, real estate broker, and general contractor, so legal process, physical repairs, and sale strategy are handled by one accountable team.
Our Receivership and Lender Services
Comprehensive support for receiverships, real estate owned property, special assets, and distressed property.
1. Court appointed receiver services
Rents, issues, and profits receiverships and other receiverships on the nomination of lenders, servicers, and their counsel.
2. Immediate possession and stabilization
Securing the property, changing locks and access, and taking control of bank accounts, keys, books, and records.
3. Property condition and risk assessment
Physical, environmental, legal, and economic inspection with a written report to the lender and the court.
4. Rent collection and tenant management
Notices to tenants, rent collection, lease administration, and Los Angeles Rent Stabilization Ordinance compliance.
5. Trust accounting and financial reporting
Segregated receivership accounts, monthly operating reports, budgets, and final accountings for court approval.
6. Vendor and contract control
Review and replacement of vendors, insurance and license verification, and elimination of unnecessary contracts.
7. Repairs and construction oversight
Scopes of work, bids, permits, and completion of deferred maintenance by a licensed general contractor.
8. Code compliance and Health and Safety Code receiverships
Bringing cited properties into compliance for cities and enforcement agencies.
9. Leasing and lease up
Marketing vacant units, screening, and stabilizing occupancy to protect collateral value.
10. Insurance, tax, and utility management
Confirming coverage, paying taxes and utilities, and managing claims.
11. Receiver's certificates and funding strategy
Budgets and funding requests that keep the property operating during the case.
12. Valuation and sale support
Licensed broker analysis, market pricing, and marketing of the property for sale under court approval.
13. Real estate owned property management for lenders
Post foreclosure management, coordination with the lender's asset manager and listing broker, and reporting on the lender's schedule.
14. Transition and turnover
Orderly handoff to a buyer, a new owner, or the lender, including records, deposits, and vendor contracts.
15. Regional coverage
Los Angeles, San Fernando Valley, Ventura County. Orange County, San Diego, and the Inland Empire as the team grows.
1. Court appointed receiver services
Rents, issues, and profits receiverships and other receiverships on the nomination of lenders, servicers, and their counsel.
2. Immediate possession and stabilization
Securing the property, changing locks and access, and taking control of bank accounts, keys, books, and records.
3. Property condition and risk assessment
Physical, environmental, legal, and economic inspection with a written report to the lender and the court.
4. Rent collection and tenant management
Notices to tenants, rent collection, lease administration, and Los Angeles Rent Stabilization Ordinance compliance.
5. Trust accounting and financial reporting
Segregated receivership accounts, monthly operating reports, budgets, and final accountings for court approval.
6. Vendor and contract control
Review and replacement of vendors, insurance and license verification, and elimination of unnecessary contracts.
7. Repairs and construction oversight
Scopes of work, bids, permits, and completion of deferred maintenance by a licensed general contractor.
8. Code compliance and Health and Safety Code receiverships
Bringing cited properties into compliance for cities and enforcement agencies.
9. Leasing and lease up
Marketing vacant units, screening, and stabilizing occupancy to protect collateral value.
10. Insurance, tax, and utility management
Confirming coverage, paying taxes and utilities, and managing claims.
11. Receiver's certificates and funding strategy
Budgets and funding requests that keep the property operating during the case.
12. Valuation and sale support
Licensed broker analysis, market pricing, and marketing of the property for sale under court approval.
13. Real estate owned property management for lenders
Post foreclosure management, coordination with the lender's asset manager and listing broker, and reporting on the lender's schedule.
14. Transition and turnover
Orderly handoff to a buyer, a new owner, or the lender, including records, deposits, and vendor contracts.
15. Regional coverage
Los Angeles, San Fernando Valley, Ventura County. Orange County, San Diego, and the Inland Empire as the team grows.
Why lenders choose Topanga
One principal who is an attorney, a broker, and a general contractor.
In house property management, maintenance coordination, and accounting.
Transparent monthly reporting.
Responsive local team and a single point of contact.
One principal who is an attorney, a broker, and a general contractor.
In house property management, maintenance coordination, and accounting.
Transparent monthly reporting.
Responsive local team and a single point of contact.
Under California law a receiver is an individual
who acts as an agent of the court and is neutral.
A company cannot be appointed.
Steve Friedmann serves as the court appointed receiver
and Topanga provides the property management
and copport.
Lender, servicer, or counsel with a distressed property?
Lender, servicer, or counsel with a distressed property?
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